MACT
MachTen, Inc.6.95
+0.15+2.21%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
22.74MP/E (TTM)
-Basic EPS (TTM)
-Dividend Yield
0%Recent Filings
8-K
Deregisters stock, cuts costs
MachTen filed Form 15 on February 7, 2024, to voluntarily deregister its common stock, suspending SEC reporting obligations effective immediately while planning to post financials on its website. The board cited high compliance costs outweighing shareholder benefits, freeing resources for network investments. Revenue hit ~$16.0M in 2023, up from $15.8M. Stock trades on OTC Pink.
10-Q
Q3 FY2023 results
MachTen posted steady Q3 revenue of $4.1M, up 2% y/y, with non-regulated broadband rising 12% y/y to $1.1M while regulated USF held firm at 59% of total. Operating profit edged up 3% y/y to $1.6M, gross margins firm despite new $15M note payable to LICT at 6.8% (due Aug 2024); net income matched prior year at $1.1M, or $0.34 per diluted share on 3.2M shares. YTD operating cash flow of $4.5M topped $6.5M capex, leaving $1.6M cash—Spin-Off complete Aug 31. Broadband subs tripled y/y. Yet USF reliance poses funding risk.
8-K
Auditor switch, CFO change
MachTen dismissed BDO as auditor effective November 14, 2023, appointing FORVIS amid a prior material weakness in internal controls—no disagreements noted. Post-spin-off, it replaced interim CFO Stephen Moore with Chief Accounting Officer Bridget Betcher, a telecom finance veteran. Q3 revenue hit $4.1M, net income $1.1M; E-ACAM boosts support to $9.7M annually from 2024. Ongoing $15M note to LICT accrues SOFR +1.5%. Leadership stabilizes.
8-K
Secures $9.7M annual E-ACAM support
MachTen's subsidiaries UPTC and MCBC elected to join the FCC's Enhanced-ACAM program on October 11, securing ~$9.7M annually through 2038—up from $8.7M under the expiring ACAM. Funds target major broadband upgrades for 100 Mbps speeds across 19 Michigan counties over five years. Three subsidiaries also landed RUS ReConnect grants up to $70M for rural builds. Forward-looking plans carry execution risks.
8-K
MachTen spins off from LICT
MachTen spun off from LICT on August 31, 2023, via pro rata dividend of 81% of its common stock (2,565,485 shares) to LICT holders at 150 shares per LICT share; LICT retains 19%. LICT now provides transitional accounting services for up to three months at $5,000/month while granting MachTen a proportional voting proxy on retained shares. Independence sharpens Michigan telecom focus.
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